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HUH??? I purchased my house in 2001 for 98K and did over 30-35K worth of upgrades and you are saying that someone shouldn't pay me more than 98K??? GET REAL!
What if what you call "upgrades" are nothing more than personalizations to the buyer - that they will have to pay to change?
Out of curiosity, how much of that 35K do you expect to get back?
HUH??? I purchased my house in 2001 for 98K and did over 30-35K worth of upgrades and you are saying that someone shouldn't pay me more than 98K??? GET REAL!
That is not enough information to determine if you house is worth more or less than $98k. If you overpaid in 2001 and your area has gotten very undesirable than it is possible your house is worth less than $98k even after your upgrades. Upgrading a house beyond the area is another way to lose money. If you plop a $200k home in an area with NO houses above $80k in worth then that $200k will probably not get its worth due to the area.
What if what you call "upgrades" are nothing more than personalizations to the buyer - that they will have to pay to change?
Out of curiosity, how much of that 35K do you expect to get back?
I agree as a buyer and as a former homeowner. You have to realize that boom time is over and expect that the $$ you put into a home (unless you are adding sq footage or something) in general is not going to come out the other end. Upgrades are part of maint of the home - you may get some of that back, but no where near what you put in originally. Enjoy the upgrades you make as what they are, something for you to enjoy personally - not something that everyone is going to want to pay for.
For instance, take granite countertops - Two houses that are equal, but one has granite countertops and the other doesn't. I wouldn't pay extra for that. My perspective...
That is not enough information to determine if you house is worth more or less than $98k. If you overpaid in 2001 and your area has gotten very undesirable than it is possible your house is worth less than $98k even after your upgrades. Upgrading a house beyond the area is another way to lose money. If you plop a $200k home in an area with NO houses above $80k in worth then that $200k will probably not get its worth due to the area.
I agree this is true. Another consideration in this mix...
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,373,524 times
Reputation: 4938
Quote:
Originally Posted by tilli
What if what you call "upgrades" are nothing more than personalizations to the buyer - that they will have to pay to change?
Out of curiosity, how much of that 35K do you expect to get back?
I expect to get 25K back. Like I said in many threads here....if they don't want to give me what my house is worth, (THE COMPS SUPPORT MY PRICE), then they can walk! I don't have to sell! Do I want to sell-YES, I do--but again, I am not going to give the house away.
Y'all can talk about the market and economy as much as you want to...It still doesn't mean I am going to give my home away to the lowest bidder. I find these posts so amusing.
If they want to change all the remodel work I had done, that is up to them! Why anyone would want to is beyond me esp. if they saw the before pics. And I'm going to throw it back on you--why should I take a loss on a remodel because they don't like it? If they don't like it, then walk away! It's that simple!
I think changing vinyl flooring over to tile and hardwood in kit/DR are not a "personalization". Solid wood hickory cabinets--top notch cabinets--not cheap ones--top line. All brand new appliances in 2003 when I did the remodel. New carpet in bedrooms/living room/hall. Tiled flooring in sun room. Custom made window treatment for bay window. If you saw the before and after pics of my house, you would be amazed. Those are just a few of the upgrades I did.
And furthermore, all the feed back on my remodel is all positive--they all fall in love with my kitchen. There were several couples who admitted they couldn't afford my house. It is priced well within the comps for my neighborhood.
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,373,524 times
Reputation: 4938
Quote:
Originally Posted by NatasNJ
That is not enough information to determine if you house is worth more or less than $98k. If you overpaid in 2001 and your area has gotten very undesirable than it is possible your house is worth less than $98k even after your upgrades. Upgrading a house beyond the area is another way to lose money. If you plop a $200k home in an area with NO houses above $80k in worth then that $200k will probably not get its worth due to the area.
I didn't overpay in 2001. It was very comparable to the comps. A smaller ranch home (it could fit inside of my house) a few streets over sold last week for 120K. Mine has tons more upgrades and I'm not asking that much more than what the other house sold for.
I live in a very desirable area--one of the top school districts in Pittsburgh. Crime is extremely LOW. I will get my price!
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,373,524 times
Reputation: 4938
Quote:
Originally Posted by bproven
I agree as a buyer and as a former homeowner. You have to realize that boom time is over and expect that the $$ you put into a home (unless you are adding sq footage or something) in general is not going to come out the other end. Upgrades are part of maint of the home - you may get some of that back, but no where near what you put in originally. Enjoy the upgrades you make as what they are, something for you to enjoy personally - not something that everyone is going to want to pay for.
For instance, take granite countertops - Two houses that are equal, but one has granite countertops and the other doesn't. I wouldn't pay extra for that. My perspective...
another buyer who wants something for free... Upgrades are NOT maintenance of a home! PLEASE!!!
HUH??? I purchased my house in 2001 for 98K and did over 30-35K worth of upgrades and you are saying that someone shouldn't pay me more than 98K??? GET REAL!
Upgrades to you may be godawful bright pink walls and belgian shutters. It's your personality not ours and if we have to redo them we're looking at it as a possible expense.
Upgrades to you may be godawful bright pink walls and belgian shutters. It's your personality not ours and if we have to redo them we're looking at it as a possible expense.
Oh please, this is just grasping now.
If you don't like the upgrade, you always have the option of walking away but I think you know as well as I do that most upgrades are not as you are describing.
I didn't overpay in 2001. It was very comparable to the comps. A smaller ranch home (it could fit inside of my house) a few streets over sold last week for 120K. Mine has tons more upgrades and I'm not asking that much more than what the other house sold for.
I live in a very desirable area--one of the top school districts in Pittsburgh. Crime is extremely LOW. I will get my price!
No one is suggesting you give your house away for free or accept any offer that comes your way but based on your EXTEREMLY defensive posting style it sure does come across as you are trying to prove to yourself that your price is justified and take every comment (even if a generalization) as a jab at you personally. Maybe you are in line with comps and will sell quickly.
How long have you been on the market? Any offers yet? I wish you luck since it sounds like you would like to sell sooner than later.
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I find these posts so amusing. 
another buyer who wants something for free...
